Pension once left the UK

[Deleted User]

bostonerimus wrote: »

If you are ok paying the high QROPS costs, US tax on the transfer and maybe tax under PFIC rules in future then go for it.

I don’t get the opportunity. I live in Canada and UK bans QROPS for Canada. Which leaves me with a very uncomfortable feeling, given what’s happening in Britain.

Also, UK state pension isn’t indexed for Canadian residents.

bostonerimus

Deleted_User wrote: »

I don’t get the opportunity. I live in Canada and UK bans QROPS for Canada. Which leaves me with a very uncomfortable feeling, given what’s happening in Britain.

Also, UK state pension isn’t indexed for Canadian residents.

Agreed that the UK's lack of indexing SP when paid to residents of many countries like Canada and Australia is very unfair. It's probably good that you can't use a QROPS anymore as they were notoriously expensive. If you have a sensible asset allocation inside your UK pension you should be ok. The biggest uncertainty will be exchange rate.

jaybeetoo

https://www.gov.uk/government/publications/state-pensions-annual-increases-if-you-live-abroad/countries-where-we-pay-an-annual-increase-in-the-state-pension